The latest from Spanish pharma, including the acquisition of PTS by a private equity group for its nanoparticle drug delivery technologies; the agreement between Esteve and Kowa to license an acute pain product currently in Phase III; and the growth of the Spanish pharma market in February after falling 4 percent in January.
European oncology group adds Pharma Mar’s Lurbinectedin to treatment guidelines
Spain’s Pharma Mar said on Thursday that the European Society of Medical Oncology (ESMO) had included the company’s Lurbinectedin drug as a treatment option for a rare type of lung cancer in its clinical practice guidelines. Shares in the Madrid-based company were trading 2.1% higher at 95.96 euros ($114.92) per share after the announcement.
Private equity firm buys Spanish PTS to seize on COVID-19-fueled transformation of nanoparticle delivery
A private equity group has bought Polypeptide Therapeutic Solutions (PTS) for its nanoparticle drug delivery technologies. Arcline Investment Management struck the deal in the belief the success of mRNA COVID-19 vaccines has permanently accelerated the rise of nanoparticle delivery.
PTS spun out from a Spanish biomedical research center in 2012 and, with the support of investors including Columbus Venture Partners, has established vehicles to transport active substances.
Esteve licenses a drug in the US and enters a €1.5 billion business
Spanish Esteve closed an agreement with Kowa Pharmaceuticals through which it cedes the commercialization of its product for acute pain in the US market. The drug is in the final phase of development and the Spanish company expects to obtain approval from the FDA later this year.
British fund ICG puts Spanish Suanfarma on the market for €200-250 million
Intermediate Capital Group (ICG) fund has put the Spanish pharmaceutical company Suanfarma up for sale. The transaction is valued at a range of between €200 million and €250 million. The British fund has hired the Rothschild investment bank to carry out the operation.
Spain will dedicate only 1.5 percent of EU recovery funds to the health system
The Spanish government has sent the European Commission its Recovery, Transformation and Resilience Plan for the economy, which includes investments of €69.528 billion, of which only €1.06 billion (1.5 percent), will be invested in the National System of Health.
Sales in the Spanish pharma market grew 1 percent in February
Sales in the Spanish pharmaceutical sector continues to grow. In February 2021, the Business Figures Index (ICN) of health activities registered a slight increase of 1 percent compared to the same month in 2020, according to the latest data published by the National Institute of Statistics (INE). The growth of February contrasts with the fall produced in the previous month, in which the ICN of the Spanish pharmaceutical sector fell by 4 percent.